Chapter 11 SBRA Provisions

Debtors Can Elect to Use the SBRA Provisions Even if the Case Was Pending Before Effective Date By: Dean A. Langdon On February 19, 2020 the Small Business Reorganization Act (SBRA) became effective, providing a streamlined, simpler Chapter 11 bankruptcy process for companies or individuals who have less than $2,726,625

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The National Chapter 13 Bankruptcy Plan Form

In Re Donnadio By: Dean A. Langdon The key focus in a Chapter 13 bankruptcy is the plan, because it determines how creditors will be treated during the case. Historically, each bankruptcy district had its own version of a plan, and provisions for treatment of creditors varied from district to

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What Accountants Need to Know About Chapter 11 Bankruptcy

By: Jamie L. Harris If you are an accountant today, you will more likely than not have a corporate client at some point that is in a Chapter 11 bankruptcy proceeding. The role of an accountant in Chapter 11 proceedings is vital. It is important to know that as an accountant

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Recovering Garnished Wages in Bankruptcy

By: Heather G. Pennington Not only will filing bankruptcy immediately stop a creditor from continuing to garnish your paycheck—in some cases bankruptcy will actually allow you to get some of your money back! If a creditor has garnished more than $600 from a debtor in the 90 days before a

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Municipal Chapter 9 Cases

Open Records/Open Meetings Issues Still Apply By: Laura Day DelCotto Most bankruptcy attorneys (as well as bankruptcy judges) do not normally run up against “open records” laws in the vast majority of their work. Of course, the local government leadership and all public officials are very well versed in proper

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Business Bankruptcy and Disclosing Assets

Individual Business Owners Can Lose the Right to Discharge Their Debts in Bankruptcy By: Dean A. Langdon The ultimate goal of every individual filing bankruptcy is to be released, or discharged, from the obligation to repay debts. Bankruptcy laws put conditions on being released from this obligation, and if an

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2020 Distressed Industry Outlook

What the Retail, Trucking, Oil and Gas Industries Face Going Into a New Decade By: Dean A. Langdon The pundits tell us that the economy is doing very well, and by some measures, that’s true. But there are always industries in our economy that are undergoing financial distress, and the

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Finding Gratitude in the Face of Financial Stress

By: Laura Day DelCotto Financial fears and stress are without a doubt to be some of the most serious health risks, ranking up there with other life-altering events such as the death of a loved one, divorce, or job loss. In times of ultimate stress in our lives, it is

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Small Business Reorganization Act of 2019

The new legislation could make filing Chapter 11 Bankruptcy appealing to small businesses By: Jamie L. Harris Filing for chapter 11 bankruptcy relief should be easier for small businesses by February 2020 when the Small Business Reorganization Act of 2019 becomes effective. The legislation which President Trump signed back in

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My Business is in Financial Trouble: Now What?

By: Laura Day DelCotto I recently attended a national panel presentation involving a workout consultant, a banker and an attorney.  Yes, it sounds like the start of a joke, but this group discussion was spot-on as to what “restructuring professionals” see on a day to day basis. Some take-away thoughts:

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